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Las Vegas sports betting pool gets taken down

Incredible read courtesy of Betting Talk about a massive Las Vegas sports betting pool not paying out its winners.

“I kept hoping that this guy who ran these great pools and was so responsive in his emails wouldn’t have screwed all of these people over like that,” said one contestant who asked to remain anonymous. “But then I thought what the hell does he have to lose? Of course he had about $600k in his possession of other people’s money, so why not just run with it?”

A day in the life of a Las Vegas sportsbook

Good article on FOX Sports that centers around sports betting in Las Vegas and LVH's head oddsmaker, Jay Kornegay.

“We basically sell integrity,” Kornegay said. “We have to have integrity of these games, because if we lose that, we don’t have a product to sell. …I’m not saying we’re best friends because we certainly have our differences, but we are on the same side. They want to protect their product and we want to protect their product. We want to make sure that these games are fair and true. If there’s any kind of tampering, we want to report it just as much as they want to.”

“There are similarities between the two, sure, but (with gambling) the rest of the world has already legalized it and there’s proof that people already want it,” Kornegay said. “In my eyes, it’s a safer way to handle sports gambling, because you can’t do it on credit. If you bet through a bookmaker on credit, that’s how you get in trouble. If it was legalized,

Las Vegas policy doesn't allow gambling on Olympics

Article courtesy of Linemakers on why betting on the Olympics is not allowed in Las Vegas. Meanwhile, you get down on anything from ice dance to curling futures at offshore sportsbooks like Pinnacle.

"Don't think that the Nevada Gaming Control Board doesn't want to be bothered," said Avello, "because they do listen and want to do what's best for the state, but they need to know every angle of each separate case. I would love to book (Olympic) hockey, and while I could probably prove that a large portion of the players are professional players, there are a handful of those players that are actually amateur that I might not be able to prove."

So now we have not one but two filthy rich, old, delusional casino execs saying no to online gambling.

“This is not a good entrepreneurial opportunity,” Wynn, who knows a little bit about entrepreneurship, said. “Where is the business opportunity? The big problem I see is I don’t see the government letting us keep the money.”

“(Legalizing web gaming) can’t get through the House of Representatives,” Wynn said. “They can’t agree on anything, especially something this esoteric.”

Las Vegas sportsbooks rake in $19.6 million on Super Bowl XLVIII

Super Bowl XLVIII proved to be a profitable one for Las Vegas sportsbooks – and by profitable, we mean they absolutely crushed. A record $119.4 million was wagered and the books won $19.6 million – a ridiculous 16.5% return. It could have been worse had the first score of the game not been a safety.

Dana White makes Floyd Mayweather seem humble

"I'm like, are you serious? We're going to get killed," White said. "They don't have some kind of suitcase where they put the money in. ‘You just beat us, here you go.' That's really the attitude. They just stack it all up there and go ‘thanks, have a great night.' We've had trash bags, we got to the point we started bringing our own bags."

"It's the rush and excitement of all rushes," White said. "What would you do if you put a $50,000 hand up there and you have to split ’em? There's nights I beat the casinos for $5,000,000."

It’s Super Bowl time again; the moral equivalent of Christmas Day for sports bettors. Yet many of the professional full time bettors that I know are rather disappointed with the proposition betting opportunities this year – there’s simply not much low hanging fruit. The biggest and best sportsbooks (market leaders both here in Vegas and offshore) have learned from previous mistakes. Bad numbers do NOT abound in 2014.

Let me start with the game itself. The Super Bowl itself has been an underdog bettor’s paradise in recent years. The Ravens won the Super Bowl last year as the underdog, beating the favored 49ers. The Giants won the year before as an underdog; knocking off the Patriots. In 2010, the Saints won straight up as a dog over Peyton Manning and the Colts. In 2009, the Cardinals covered the spread in a tight loss to the Steelers. In 2008, the Giants beat the favored 18-0 Patriots outright. The only favorite to win and cover in the last six Super Bowls was the Packers when they beat the Steelers in 2011.

The underdog trend in the Super Bowl goes back even further than that, with four consecutive dog covers from 2002 through 2005 Read more

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